Saxo Bank wins best mobile trading initiative at Sell Side Technology Awards
Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, has today announced that its transformative fixed income offering, available on mobile via SaxoTraderGO, has won the Best Mobile Trading Initiative at the 2018 Sell Side Technology Awards.
The Sell Side Technology Awards recognise the leading technologies and third party vendors in their areas of expertise through an auditable and transparent methodology developed by the publication’s senior journalists.
The launch of the fixed income service, which covers liquid government and corporate bonds, was part of Saxo's mission to democratise trading for investors and mid-sized institutional clients. Through Saxo Bank’s digital bond trading solution, clients can connect with the entire global bond market, including over 5,000 investment grade and high yield corporate and government bonds in 20 different currencies.
Built on OpenAPI and fully accessible through any browser on a desktop, tablet or mobile device, SaxoTraderGO is pioneering mobile trading, moving the industry away from the legacy systems of the past.
The fixed income launch comes at a particularly relevant time when, due to the best execution requirements of MiFID II, there has been a move away from the highly inefficient Request for Quote (RFQ) manual trading models which in most cases do not explore the depth of liquidity and the range of prices available in the market place.
Furthermore, Saxo Bank’s fixed income fee model is commission-based and is aligned with MiFID II's requirement for greater transparency in fee structures.
Commenting on the win, Simon Fasdal, Head of Fixed Income, Saxo Bank said,
“We are extremely pleased to have won this prestigious industry award which recognises the transformative nature of our fixed income offering. Through our fixed income service, clients receive the same mobile trading experience as they are accustomed to for their equity trading, offering both speed of execution and transparency."
The aim of Saxo Bank’s fixed income project for investors and mid-sized institutional clients is to revolutionise the way they trade bonds – a process which with other providers involves a manual “request for quote” from a small number of banks, and in some instances a single bank. The traditional process is inefficient as it is slow and does not explore the depth of the liquidity and range of prices available in the marketplace.
Saxo Bank’s fully digital bond trading solution connects each client with the entire global bond market, in a direct, competitive, transparent, and efficient manner. Each bond order is directed to an optimized dealer auction which comprises up to 40 of the largest bond liquidity providers. Thanks to technology, most trades are done within seconds and, most importantly, clients benefit from large cost savings due to the competitive nature of the multi-dealer environment.
The fixed income offering also recently won The Banker's Best Trading Platform Project Award 2017.
Saxo Bank is a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account.
Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo Bank has embraced Open Banking from the beginning and is focused on helping clients and partners through win-win partnerships and product innovation.
Since launching its first online trading platform in 1998, Saxo Bank works to empower everyone to navigate their financial future by opening up access to trading and investment. The Saxo Group’s client assets total more than 45 billion euros, and the Group employs more than 2100 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.For more information, please visit www.home.saxo.